Jeff Gundlach 'feels' like Friday's jobs report will be a disappointment

Jeffrey Gundlach Thomson Reuters NEW YORK (Reuters) - Jeffrey Gundlach, chief executive of investment firm DoubleLine Capital, said Friday's report on U.S. nonfarm payrolls in April "feels to me that it's going to be weak."

Gundlach was speaking at a private DoubleLine event in New York on Wednesday, a day after predicting the Federal Reserve would likely not raise interest rates this year.

He made the comment a few hours after the ADP National Employment Report showed that U.S. private employers boosted payrolls by 169,000 in April, the smallest gain since January 2014 and below economists' forecasts for an increase of 200,000.

The ADP report, however, has a poor track record for predicting nonfarm payrolls, which is reported by the U.S. Department of Labor and which most economists expect to rebound from a poor March that was attributed to bad weather.

Economists polled by Reuters on average expect April nonfarm payrolls to rise by 224,000.